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March 2023 Watchlist Update
Time for my monthly Commonstock Watchlist update. Feel like I did some good work in February trying to source some new ideas and use some new tools to find potential opportunities.
As you will see below, I am trying to note the idea source of each company. I never really kept track prior to this year, so long time Watchlist positions will just be "Pre-2023".
I have already really started to narrow my focus on a few companies in each portfolio, guided by my Scorecard.
Hope you enjoy!
Roth IRA
Goal - to add to un-represented sectors in portfolio. These sectors are Healthcare, Defense, Consumer Discretionary and Utilities.
For reference:
- S&P Price Gain 1 Year is -8.15%
- S&P 3 Year is +40.86%.
- Portfolio Average Yield is 2.57%
- Portfolio 95th Percentile Yield is 5.35%
Added:
Removed:
Healthcare:
$SNY - 4.5/6
- Price vs S&P - +0.5. 1 Yr -6.76%% and 3 Yr +5.56%.
- FCF Rank - +0.5. Div/FCF is 80.44% and greater than 50%.
- Conviction - +1. High. Mostly tied to Gold Bond products.
- Dividend Yield - +1. Yield of 6.9% is greater than than top 5%.
- Weighting - +1. Currently no holdings in sector.
- P/E - +0.5. 27.65 > 25 and less than 50.
- Source: Pre-2023
Defense:
$GD - 5/6
- Price vs S&P - +1. 1 Yr -4.97%. 3 Yr +48.82%.
- FCF Rank - +1. Div/FCF of 39.75% is less than 50%.
- Conviction - +1. High. Tensions have been high.
- Dividend Yield - +0. 2.28% is less than portfolio average.
- Weighting - +1. Currently no holdings in sector.
- P/E - +1. 12.19 <25.
- Source: Pre-2023
Consumer Discretionary:
$HRB - 5/6
- Price vs S&P - +1. 1 Yr +46.66%. 3 Yr +86.67%.
- FCF Rank - +1. Div/FCF is 22.84% and less than 50%.
- Conviction - +0.5. Medium. Need more research.
- Dividend Yield - +0.5. Yield of 3.15% is more than portfolio average but less than top 5%.
- Weighting - +1. Currently no holdings in sector.
- P/E - +1. 12.10 < 25.
- Source: Koyfin Screener 2/18/23
$ETD - 5/6
- Price vs S&P - +1. 1 Yr +10.32%. 3 Yr +146.33%.
- FCF Rank - +0.5. Div/FCF is 81.07% and greater than 50%.
- Conviction - +0.5. Medium. Need more research.
- Dividend Yield - +1. Yield of 6.27% is in Top 5%.
- Weighting - +1. Currently no holdings in sector.
- P/E - +1. 6.39 < 25.
- Source: Koyfin Screener 2/18/23
Utilities:
$GNE - 5/6
- Price vs S&P - +1. 1 Yr +75.23%. 3 Yr +98.47%.
- FCF Rank - +1. Div/FCF is 11.61% and less than 50%.
- Conviction - +0.5. Medium. Need more research.
- Dividend Yield - +0.5. Yield of 2.57% is greater than portfolio average but less than Top 5%.
- Weighting - +1. Currently no holdings in sector.
- P/E - +1. 3.20 < 25.
- Source: Koyfin Screener 2/18/23
Taxable
Goal - to track companies in sectors I will most likely sell out of that have higher rankings than current holdings.
I am currently less than 1% weighted in $FUN, $CRON, $BUD, $O and $RTX. Therefore, I am tracking companies in Entertainment, Sin Stocks, Real Estate and Defense. I currently do not have anything in my watchlist tied with or better than $FUN and $O, so I do not have those sectors represented in this iteration of my Watchlist.
For reference:
- S&P Price Gain 1 Year is -8.15%
- S&P 3 Year is +40.86%.
- Portfolio Average Yield is 2.85%
- Portfolio 95th Percentile Yield is 5.59%
Added:
Removed:
Defense:
$LMT - 4/6
- Price vs S&P - +0.5. 1 Yr +8.30%. 3 Yr +33.22%.
- FCF Rank - +1. Div/FCF of 37.14% is less than 50%.
- Conviction - +1. High. Tensions have been high.
- Dividend Yield - +0. 2.36% is less than portfolio average.
- Weighting - +0.5. Currently have one holding in sector but may sell by end of year.
- P/E - +1. 21.95 <25.
- Source: Pre-2023
Sin Stocks:
$PENN - 4/6
- Price vs S&P - +0.5. 1 Yr -33.68%. 3 Yr +42.86%.
- FCF Rank - +1. No dividend, but positive FCF.
- Conviction - +1. High. Mostly for the belief in and backing of Barstool brand and greater acceptance of sports gambling.
- Dividend Yield - +0. Does not pay a dividend.
- Weighting - +0.5. Currently have one holding in sector but may sell by end of year.
- P/E - +1. 22.64 <25.
- Source: Pre-2023
$RICK - 4/6
- Price vs S&P - +1. 1 Yr +8.30%. 3 Yr +33.22%.
- FCF Rank - +1. Div/FCF of 4.33% is less than 50%.
- Conviction - +0.5. Medium. Should be high with purchase in Roth. Hesitant to own in both accounts.
- Dividend Yield - +0. 0.23% is less than portfolio average.
- Weighting - +0.5. Currently have one holding but may sell by end of year.
- P/E - +1. 16.55 <25
- Source: Pre-2023
Summary
I am excited to see $PENN return to the Watchlist. I am a big Barstool fan and both my wife and I consume a lot of their content. It is intriguing that $PENN scores so well without paying a dividend.
The Koyfin screener I ran gave me a lot of good ideas. I screened based off the items I track in my Scorecard and I am glad to have a few names returned that I can start diving into.
As always, would like to hear any feedback you have on any of these businesses, especially if you currently hold, have owned previously or have researched!
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